Harris | Oakmark

Important disclosures: 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐡𝐨𝐥𝐝𝐢𝐧𝐠𝐬 𝐚𝐫𝐞 𝐬𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐜𝐡𝐚𝐧𝐠𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐧𝐨𝐭𝐢𝐜𝐞 𝐚𝐧𝐝 𝐚𝐫𝐞 𝐧𝐨𝐭 𝐢𝐧𝐭𝐞𝐧𝐝𝐞𝐝 𝐚𝐬 𝐫𝐞𝐜𝐨𝐦𝐦𝐞𝐧𝐝𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐢𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐬𝐭𝐨𝐜𝐤𝐬 𝐧𝐨𝐫 𝐝𝐨𝐞𝐬 𝐢𝐭 𝐜𝐨𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐝𝐯𝐢𝐜𝐞. 𝐏𝐚𝐬𝐭 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐢𝐬 𝐧𝐨 𝐠𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞 𝐨𝐟 𝐟𝐮𝐭𝐮𝐫𝐞 𝐫𝐞𝐬𝐮𝐥𝐭𝐬.

There can be no guarantee that an investment will achieve its objectives or provide positive performance over any period of time.

The information, data, analyses and opinions presented herein are for informational purposes only and represent the investments and views of the author and Harris Associates L.P. as of the date written and are subject to change without notice.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity.